UK is named number 1 investment destination in the world in a report published by Ernst & Young. The UK takes the first place as the most attractive investment geolocation on the planet for the first time in the survey’s 10-year history, rising from the seventh place 3 years ago. It climbed to the top spot of the investment appeal despite the Brexit uncertainty and the UK’s continuous intention to leave the European Union.
The UK is followed by the United States, Germany, China, France, Canada, India, Australia, Brazil and the United Arab Emirates in top 10 best investment destinations.
Overall, the report shows a positive outlook of respondents on the world’s economic activity, with 93% seeing the global economy as “improving”.
Key factors attracting investors to the UK are transparent and technologically advanced economy, favourable business environment, productive and talented labour force, multiculturalism and the English language.
The geographic outlook of the report places the UK as the most attractive country for investments, with top current sectors of investment in the UK outlined as consumer products and retail, industrial and financial services.
Consumer products and retail industry is undergoing unprecedented transformation. Highly complex and continuously changing consumer marketplace is facing rising costs, changing consumer expectations, fast developing technological immersion and rising demands and involvement level of stakeholders. Many UK companies are successfully utilizing innovative strategies and finding new ways to balance out changing market while sustaining and maintaining profitable growth.
According to the recent research, responsibility, wellness and health is one of the main undercurrents that successful industry players shall take into account to develop brand loyalty and future success. Personalisation of goods and further development of digital technologies are identified as other important factors for consumer products and retail industry in the UK to consider for future effective development.
Financial services industry contributes tens of billions GDP to the UK economy, with London alone bringing in over 50% of total UK economic input from financial services. However, it is safe to say that while well-established financial industry is helping UK economy grow, UK does not over-rely on financially services. UK financial services industry contributes around 7% to total economic output. In comparison, Switzerland and Australia receive 9% each of total economic output from financial services, while the financial sector accounts for whole 27% of economic output in Luxembourg.
Besides, the UK is moving towards advanced manufacturing and attracting a big number of R&D projects. UK is placed 9th in a global economy for advanced manufacturing, with Research and Development totalling 13.5 billion GBP every year and manufacturing productivity growing 3 times faster than the rest of the UK’s economy as a whole. The main strengths in UK manufacturing areas include space and satellites, marine engineering, defence foreign direct investment (FDI), data analytics and cloud computing.
The government has identified opportunities for composites manufacturing increasing from 2 billion GBP to 12 billion GBP by 2030, with further opportunities available in the servicing, manufacturing and installation of automated technologies.
Throughout the rapidly changing times, markets and economic conditions, UK continues to provide superb investment opportunities for those who know where to look for them.
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